Shearman And Sterling

News July 01, 2022

Prima Solutions on the Sale of Prima XL and Prima Compliance to Duck Creek

Shearman & Sterling advised Prima Solutions, a software vendor that designs, develops and markets software exclusively for insurance providers, in connection with the sale of Prima XL, France-based Prima Solutions’ flagship commercial reinsurance technology solution to Duck Creek, the intelligent solutions provider defining the future of property and casualty (P&C) insurance.

Prima XL will further enhance Duck Creek’s value to current and future customers by simplifying reinsurance management. The transaction terms also include an agreement by Duck Creek to purchase Prima Compliance for Solvency II, a compliance solution which Duck Creek intends to continue offering in the French marketplace.

As is customary, the transaction remains subject to the information and consultation processes of the relevant employee representative bodies in accordance with applicable laws.

The Team